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TSX higher as oil prices spike after U.S. inventory report

Toronto Star -- The Toronto stock market pushed higher Wednesday morning, helped along by a sharp rise in oil prices following the release of the latest crude inventory levels in the U.S

The S&P/TSX composite index advanced 63 points to 11,981.7.

The TSX has been lower all week following a sharp three per cent gain last week, finally surpassing the level where it started the year, as investors responded to higher commodity prices and a slew of positive bank earnings.

Analysts said the back and forth action could be a factor in markets for some time.

“It’s been this way for six months and it’s probably going to continue this way for a number of months to come and that is that we are in a traders’ market,” said Gareth Watson, director Canadian Equities Portfolio Advisory Group at ScotiaMcLeod.

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Submitted Mar 10, 2010 By: sphere68

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no_monkey2002 Champion Author Tallahassee Posts:3,793 Points:1,125,140 Joined:Mar 2006	Message Posted: Mar 10, 2010 2:23:29 PM Ignore no_monkey2002 Report Abuse off n on
CatMan623 Champion Author Houston Posts:8,608 Points:1,383,775 Joined:Aug 2006	Message Posted: Mar 10, 2010 2:22:46 PM Ignore CatMan623 Report Abuse Get 'em all to Gamblers Anonymous. They're all addicted to gambling highs.
BEngr Champion Author Illinois Posts:1,711 Points:614,110 Joined:May 2008	Message Posted: Mar 10, 2010 2:22:33 PM Ignore BEngr Report Abuse Some price increases can not be justified because the U.S. oil inventory did not go down, they simply did not rise as fast as predicted.
PhilMils Champion Author Virginia Posts:2,141 Points:453,750 Joined:Dec 2008	Message Posted: Mar 10, 2010 2:17:21 PM Ignore PhilMils Report Abuse Let's get off oil!
walkit1 Champion Author Memphis Posts:1,263 Points:721,680 Joined:Jan 2007	Message Posted: Mar 10, 2010 2:10:57 PM Ignore walkit1 Report Abuse I hope they all get burned again and lose lots of money. Greed never stops!
oldosc8 All-Star Author Baltimore Posts:503 Points:123,835 Joined:Nov 2009	Message Posted: Mar 10, 2010 2:10:41 PM Ignore oldosc8 Report Abuse How high will oil prices go with the unemployment still high.
oldiesman Champion Author New York Posts:1,667 Points:1,263,885 Joined:May 2006	Message Posted: Mar 10, 2010 2:09:53 PM Ignore oldiesman Report Abuse Prices here up over 2.90 a gal.
uptherefiners Champion Author Chicago Posts:1,167 Points:273,975 Joined:Jun 2006	Message Posted: Mar 10, 2010 2:06:58 PM Ignore uptherefiners Report Abuse investors turning into traders...gonna be a lot of cryin' goin' on
fcdriver Champion Author Tennessee Posts:2,859 Points:601,470 Joined:Sep 2008	Message Posted: Mar 10, 2010 2:06:48 PM Ignore fcdriver Report Abuse yada yada jada
Hugo40 Champion Author Kentucky Posts:2,753 Points:652,960 Joined:Aug 2008	Message Posted: Mar 10, 2010 1:59:14 PM Ignore Hugo40 Report Abuse Speculators are at it again.
ebowMA Veteran Author Boston Posts:318 Points:394,635 Joined:Apr 2008	Message Posted: Mar 10, 2010 1:58:52 PM Ignore ebowMA Report Abuse It's all a conspiracy!!
georgeo Champion Author California Posts:2,516 Points:102,610 Joined:May 2009	Message Posted: Mar 10, 2010 1:54:05 PM Ignore georgeo Report Abuse This is an example of how planted stories push the market up through speculators.
afghaned Champion Author Hamilton Posts:4,381 Points:312,775 Joined:May 2004	Message Posted: Mar 10, 2010 1:49:04 PM Ignore afghaned Report Abuse We need new taxes on the greedy blood suckers.
rowing All-Star Author Macon Posts:880 Points:261,610 Joined:Sep 2009	Message Posted: Mar 10, 2010 1:48:43 PM Ignore rowing Report Abuse all i have heard was oil usage was down! Now it is up! Makes the price go up more. They know what to say
hangupanddrive Champion Author Michigan Posts:1,831 Points:1,157,655 Joined:Aug 2005	Message Posted: Mar 10, 2010 1:42:23 PM Ignore hangupanddrive Report Abuse Supply and demand. A nasty balance.
Blazer197 Champion Author New Haven Posts:1,112 Points:218,825 Joined:Feb 2009	Message Posted: Mar 10, 2010 1:41:09 PM Ignore Blazer197 Report Abuse Very Nice
hwmillerster Champion Author Missouri Posts:1,858 Points:499,915 Joined:Oct 2008	Message Posted: Mar 10, 2010 1:41:00 PM Ignore hwmillerster Report Abuse Energy companies must dominate the Toronto stock market. Well some Canadian investors made some money.
repeater1 Champion Author Kansas Posts:3,462 Points:1,405,320 Joined:Oct 2005	Message Posted: Mar 10, 2010 1:40:39 PM Ignore repeater1 Report Abuse Every report on inventories is different than the last one. Speculators are having a field day.